SM Prime Holdings Scales Up Solar Energy Capacity in 2024

SM Prime Holdings, Inc. (SM Prime), one of Southeast Asia’s largest integrated property developers, expanded its solar energy footprint in 2024, driving both operational efficiency and carbon emission reductions across its properties. The company generated 27.6 gigawatt hours (GWh) of clean energy, a 49% increase from the previous year.

​The continued rollout of solar panels across SM malls and developments has further lowered the company’s reliance on conventional power sources, cutting carbon emissions by 19,140.6 tons CO2 metric tons—equivalent to taking more than 4,100 cars off the road annually.

The expansion aligns with SM Prime’s broader sustainability strategy to integrate renewable energy solutions into its operations, reducing both costs and environmental impact.

In 2014, SM North EDSA became the first commercial property in the Philippines to install rooftop solar photovoltaic (PV) panels, marking the largest installation in Southeast Asia at the time.

SM Prime operates 47 malls and properties with solar installations totaling 63 megawatts (MW) of capacity. In 2025, it plans to add 20 rooftop solar PV projects to reinforce its push toward greater energy efficiency, optimizing power consumption while ensuring long-term resilience against fluctuating energy costs.

"Expanding our use of solar energy enhances the sustainability of our developments. This initiative also enables us to support the Interruptible Load Program (ILP) of the Department of Energy (DOE)," said SM Prime President Jeffrey C. Lim.

As summer drives up electricity demand, the ILP helps stabilize the grid by allowing distribution utilities and electric cooperatives to request large power consumers to use their own generator sets and power sources. Participants include malls, large businesses and factories with significant standby capacity, ensuring sufficient power supply when demand exceeds available resources.

Most SM Supermalls participate in the ILP, contributing 110MW of power during each activation. SM Prime leads the private sector in ILP contributions, with SM Mall of Asia providing the highest committed capacity at 15.92MW.

This, along with other sustainability initiatives, reinforces SM Prime’s position as a leader in sustainable property development, driving its commitment to integrating green energy solutions across its portfolio.